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re: Roth IRA- is it considered a liquid asset
Posted on 1/15/13 at 1:27 pm to Siderophore
Posted on 1/15/13 at 1:27 pm to Siderophore
quote:
But you are correct, you are free to withdraw all contributions completely penalty and tax free.
I'm not currently looking at my tax facts, but you may need to research a 5 yr. period on contributions held before it's considered penalty-free for distribution.
To answer the OP, I do not consider the Roth IRA a liquid asset.
1
Posted on 1/15/13 at 1:34 pm to BestBanker
That is a somewhat incorrect.
The account needs to be at least 5 years old before you can withdraw earnings tax free, and rollover contributions need to stay for 5 years before you can withdraw them tax free.
But you can pull out whatever contributions you put in, whenever.
And when doing Roth withdrawals, it will pull in the order of:
Contributions, conversion, and finally earnings.
The account needs to be at least 5 years old before you can withdraw earnings tax free, and rollover contributions need to stay for 5 years before you can withdraw them tax free.
But you can pull out whatever contributions you put in, whenever.
And when doing Roth withdrawals, it will pull in the order of:
Contributions, conversion, and finally earnings.
This post was edited on 1/15/13 at 1:36 pm
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